Bill Text: IL HR0044 | 2009-2010 | 96th General Assembly | Enrolled

---

Bill Title: Urges the members of Congress to introduce and give full consideration to a bill comparable to the Patriot Employers Act.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2009-05-31 - Resolution Adopted as Amended [HR0044 Detail]

Download: Illinois-2009-HR0044-Enrolled.html

---

HR0044 Enrolled LRB096 06336 JDS 16419 r
HOUSE RESOLUTION 44
WHEREAS, The United States Tax Code requires income earned
in the United States by American firms to be taxed at the 35%
corporate income tax rate, but allows foreign subsidiaries of
these same firms to defer payment of corporate income tax on
income earned in a foreign jurisdiction until that income is
returned to the United States; and
WHEREAS, Neither the United States Tax Code nor Internal
Revenue Service regulations require American firms to
repatriate foreign income for the purpose of taxation; and
WHEREAS, This loophole has allowed American firms to
collectively park more than $500 billion in "undistributed
earnings" offshore; and
WHEREAS, A recent study concludes that these foreign income
deferrals caused the federal government to lose $17.4 billion
in tax revenue in the year 2004 alone and simultaneously caused
more economic growth in other countries and less here at home;
and
WHEREAS, This loophole harms the State of Illinois by
decreasing its tax base and encouraging corporate investment
outside the United States; and

HR0044 Enrolled - 2 - LRB096 06336 JDS 16419 r
WHEREAS, During the 110th U.S. Congress, Senator Barack
Obama (now, President Obama), Senator Hillary Clinton (now,
Secretary of State Clinton), and Senator Richard Durbin took
steps to alleviate this problem by sponsoring a bill in the
U.S. Senate titled the Patriot Employers Act; and
WHEREAS, The Patriot Employers Act would have made a 1% tax
credit available to firms that retain their headquarters in the
United States and maintain or increase the number of their
full-time workers in the United States relative to the number
of their full-time workers outside of the United States; and
WHEREAS, The 110th Congress came to a close without passage
of that bill, and a comparable bill has yet to be introduced in
the 111th Congress; therefore, be it
RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE
NINETY-SIXTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that we
urge the members of Congress to introduce and give full
consideration to a bill comparable to the Patriot Employers Act
in order to ensure that American firms contribute their fair
share to our society's social welfare; and be it further
RESOLVED, That suitable copies of this resolution be
presented to the Speaker and Minority Leader of the U.S. House

HR0044 Enrolled - 3 - LRB096 06336 JDS 16419 r
of Representatives, the Majority and Minority Leaders of the
U.S. Senate, and each member of the Illinois congressional
delegation.